Agents appointed to lease New Bond Street flagship store
International real estate adviser Savills has been appointed by the City of London to lease a flagship unit at 95-96 New Bond Street, a corner store currently occupied by L.K. Bennett.
The property comprises 7,048 sq ft of premium retail space, with an option to consider an additional 2,886 sq ft of office space.
With its location nestled between a number of global brands including Hackett, Bang & Olufsen, Georg Jensen, and Maison Diptyque, Savills said the site offers excellent exposure and high foot traffic, making it an ideal location for businesses seeking visibility to attract high-end shoppers.
According to research from Savills, the prime West End vacancy rate tightened again during the last quarter (Q2), reducing by 21 basis points to 3.7% – the lowest level since Q2 2019. The firm said that this combination of limited availability and high demand means prime locations like the asset in question are increasingly sought after by retailers and businesses looking to establish a presence in the area.
Richard Scott, director in Central London retail at Savills, said: “Occupiers are increasingly being driven to prime retail corners and this offers a rare large store in this location with visibility to Oxford Street. The continued reduction in West End vacancy rates highlights the enduring appeal of this prime retail destination, and we expect significant interest from high-profile brands seeking to capitalise on the exceptional visibility and foot traffic this site offers.”